Mr. Blair Way reports

PATRIOT COMMENCES QUEBEC S LARGEST 2023 LITHIUM FOCUSED DRILL CAMPAIGN AT THE CORVETTE PROPERTY

Patriot Battery Metals Inc. has commenced mobilization for the winter phase of its 2023 drill campaign at its wholly owned Corvette property, located in the James Bay region of Quebec. Additionally, the company is in the final stages of construction of a winter road (approximately 20 kilometres in length), extending site access from the all-season Trans-Taiga Road to the CV5 drill area.

• Mobilization for the 2023 drill campaign has commenced targeting a minimum of 20,000 metres over the January to April period.
• At least five drill rigs will be utilized to complete the winter program -- largest single lithium drill program undertaken in recent times in Quebec.
• Objective is to extend the 2,200 m strike length of the CV5 pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated about 4.3 kilometres along geological trend to the west-southwest.
• Construction of winter road almost complete -- will improve efficiency and reduce helicopter costs.
• Core assay results for 38 drill holes from the 2022 drill campaign remain to be reported -- 24 at the CV5 pegmatite cluster and 14 at the CV13 pegmatite cluster.

The 2023 winter drill program will be more expansive than the 2022 winter drill program, beginning with three drill rigs in January and increasing to five drill rigs from early February through mid-April. A minimum metreage of 20,000 m (NQ core size) is anticipated to be completed over the period. The primary objectives of the drill program are to further delineate the extent of the CV5 pegmatite, as well as infill drilling to improve the geological model to achieve indicated mineral resource confidence to support a future prefeasibility study. The winter drilling will primarily target the eastern extensions of the CV5 spodumene pegmatite and secondary lenses, moving toward the CV4 pegmatite cluster situated approximately 2.5 km along strike. An understanding of the near-surface lateral behaviour of the CV5 pegmatite is needed to refine locations of certain infrastructures required for prefeasibility level advancement, as well as help define associated field programs planned for 2023.

The construction of the approximately 20 km long winter road is nearing completion and will provide direct road access from the all-season Trans-Taiga Road, located north of the property, to the primary drill area at CV5. The road access will increase efficiency of the drill program by reducing dependency on helicopters for drill rig, equipment and personnel movements.

The overall 2023 field campaign will have multiple facets including advancing the CV5 pegmatite to an initial mineral resource estimate, scheduled for the first half of 2023, in addition to further delineation at the CV13 pegmatite cluster. The drill programs will be coupled with numerous multidisciplinary studies (environmental, hydrological, hydrogeological, geomechanical, metallurgical et cetera) as the project advances aggressively toward prefeasibility (see news release dated Dec. 13, 2022).

Blair Way, company president, chief executive officer and director, comments: "This is a significant milestone for the company as we embark on the second winter drill season on the Corvette project. The 2022 drilling has defined something very special at Corvette and this winter season will further expand on this significant discovery. With five drill rigs we will be better positioned to continue to drill out the CV5 pegmatite cluster at an aggressive pace, while also further testing the CV13 pegmatite cluster. The year 2023 will be a transformative year for the company as we advance to an initial mineral resource at CV5."

The first drill hole collar of the 2023 drill campaign is anticipated shortly, with the first three drill rigs and equipment currently on site and crews now being mobilized. The two additional drill rigs are anticipated to arrive on site later in early February as the winter freeze-up continues and lake ice thickens sufficiently to support drilling over the shallow glacial lake that overlies portions of the deposit.

About the CV lithium trend

The CV lithium trend is an emerging spodumene pegmatite district discovered by the company in 2017 and spans more than 25 kilometres across the Corvette property. The core area includes an approximately 2.2-kilometre-long spodumene pegmatite (the CV5 pegmatite) and multiple proximal secondary spodumene pegmatite lenses. This corridor has returned drill intercepts of 159.7 m at 1.65 per cent Li2O and 193 ppm Ta2O5 (CV22-042), 152.8 m at 1.22 per cent Li2O and 138 ppm Ta2O5 (CV22-030), 86.2 m at 2.13 per cent Li2O and 163 ppm Ta2O5 (CV22-044), and 70.1 m at 2.22 per cent Li2O and 147 ppm Ta2O5, including 40.7 m at 3.01 per cent Li2O and 160 ppm Ta2O5 (CV22-017).

The company has completed 95 NQ core size drill holes, totalling 27,470 m, at targets along the CV lithium trend -- 80 drill holes totalling 24,709 m at the CV5 pegmatite and proximal lenses, 14 drill holes totalling 2,647 m at the CV13 pegmatite cluster and one drill hole totalling 114 m at the CV12 pegmatite cluster. Core assay results for 38 drill holes remain to be reported -- 24 at the CV5 pegmatite cluster and 14 at the CV13 pegmatite cluster.

To date, six distinct clusters of lithium pegmatite have been discovered across the property -- CV5 pegmatite and associated lenses, CV4, CV8-12, CV9, CV10 and the recently discovered CV13. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite outcrop subsurface. Further, the high number of well-mineralized pegmatites along the trend indicate a strong potential for a series of relatively closely spaced/stacked, subparallel and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.

Qualified/competent person

The information in this news release that relates to exploration results for the Corvette property is based on, and fairly represents, information compiled by Darren L. Smith, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101, and member in good standing with the Ordre des Geologues du Quebec (geologist permit No. 1968), and with the Association of Professional Engineers and Geoscientists of Alberta (member No. 87868). Mr. Smith has reviewed the technical information in this news release.

Mr. Smith is vice-president of exploration for Patriot Battery Metals and Nevada Lithium Resources Inc., vice-president of exploration and director for Ophir Gold Corp., and a senior geologist and project manager with Dahrouge Geological Consulting Ltd. Mr. Smith holds common shares and options in the company.

Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration and to the activities being undertaken to qualify as a competent person as described by the JORC (Joint Ore Reserves Committee) Code, 2012. Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.

About Patriot Battery Metals Inc.

Patriot Battery is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.

The company's flagship asset is the 100-per-cent-owned Corvette property, located proximal to the Trans-Taiga Road and power line infrastructural corridor in the James Bay region of Quebec. The land package hosts significant lithium potential highlighted by the 2.2-kilometre-long CV5 spodumene pegmatite with drill intercepts of 159.7 m at 1.65 per cent Li2O and 193 ppm Ta2O5 (CV22-042), and 70.1 m at 2.22 per cent Li2O and 147 ppm Ta2O5, including 40.7 m at 3.01 per cent Li2O and 160 ppm Ta2O5 (CV22-017). Additionally, the property hosts the Golden Gap trend with grab samples of 3.1 to 108.9 grams per tonne gold from outcrop and seven m at 10.5 g/t gold in drill hole, and the Maven trend with 8.15 per cent copper, 1.33 g/t gold and 171 g/t silver in outcrop.

The company also holds 100-per-cent ownership of the Freeman Creek gold property in Idaho, United States, which hosts two prospective gold prospects: the Gold Dyke prospect with a 2020 drill hole intersection of 12 m at 4.11 g/t Au and 33.0 g/t Ag, and the Carmen Creek prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag and 9.75 per cent Cu.

The company's other assets include the Pontax lithium-gold property, Quebec, and the Hidden Lake lithium property, Northwest Territories, where the company maintains a 40-per-cent interest, as well as several other assets in Canada.

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